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Spartacus DAOSpartacus DAOby0x547991a0FCc6dCA62734FeDAbA5901faF717706a0x5479…706a

SIP-016: Bootstrap major pools on SPEX with SPA treasury

Voting ended almost 4 years agoSucceeded

Background:

Spartacus finance is pivoting into a ve(3, 3) dex, SPEX. Our goal is to establish SPEX as one of the leading decentralized exchanges on Fantom network.

Phase I - launch of a vanilla Dex.

Phase II - launch with incentive layers including gauges, bribes, veNFTs, votes, etc.

We will work with 1inch and other major aggregators for route integrations. We are confident that our pools will be market competitive to attract sufficient organic trade volume.

Proposal:

Allocation of $6M from SPA treasury to form initial liquidity of these major pools, with $2M in each:

  1. FTM-USDC
  2. USDC-DAI
  3. USDC-USDT

We will optimize the trade route to minimize trading. Our treasury has enough FTM and most trades would involve swapping DAI into USDC and USDT respectively.

Benefits to the SPA treasury:

  1. Retrospective airdrops of SPEX to Phase 1 LPs.
  2. LPs will earn all tx fees during Phase 1.
  3. Bootstrap the liquidity on SPEX, enabling it to offer some of the most market competitive trade routes on Fantom and gain organic trade volume.
  4. Initial liquidities will help us to get integrated into 1inch and other major Dex aggregators.

Please vote to support the proposal.

Off-Chain Vote

Yay
10.46K sSPA100%
Nay
0 sSPA0%
Quorum:1046%
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Timeline

Apr 23, 2022Proposal created
Apr 23, 2022Proposal vote started
Apr 25, 2022Proposal vote ended
Oct 26, 2023Proposal updated